Want to try out the Forex trade copy services that are popular now? While such systems are easy and effective, you have to choose the right one to get the perks. We have made your work easier with our review of such systems. This NCM Signal review is part of our review list. It gives you an unbiased opinion of the system by our experts.
NCM Signal is one such automated system that helps you automatically copy the trading approach on to your MT4 account. This system assures advanced risk control and customized capital protection features at just $39 per month. Let us delve into the system deeper and give you a better insight into it.
How NCM Signal Robot Works
Described as a system that aims to simplify trading for new and experienced traders, this trade copy service executes trades for you automatically. It syncs automatically with the MT4 trading account. The service replicates all orders of the master account on the subscriber’s trading account based on the risk setting made by the subscriber.
Features of this system besides the automated trade copy include easy and quick installation, responsive support, and VPS service. While the website has separate pages for explaining the features, working method, performance, and FAQS, there is no information available on the vendor or the team behind the system. This indicates gross neglect of transparency on the part of the developer/vendor.
The vendor explains the strategy as a combination of three expert advisors and manual supervision. For opening positions based on market conditions, the first expert advisor is used. Based on the vendor’s claims, the expert advisor system provides a success rate of 81%.
When the market movement is against the opened position of the EA, it closes the trades when zero loss is reached. Lot sizes are fixed initially but increased later. This is a light grid-martingale trading approach, which the vendor claims to be risky but when handled correctly can bring profits. The vendor explains that if required the system will override the initial settings.
No backtests are shown by the developer although the system indicates a 2-year history. A performance infographic shown on the site as seen in the screenshot below indicates a 100% risk strategy for an initial investment of $25,000 over 6 months providing a total capital of $31,632.98. However, as the vendor denotes, the past performance does not guarantee similar performance in the future.
NCM Signal Trading Results
Trading results verified on the Myfxbook site are displayed on the official website. A screenshot of the NCM Conservative trading results on a real account in USD is shown below. The system has been trading from February 2018 up until now.
On leverage of 1:500, the system shows an absolute gain and a gain percentage of 367.92%. A 4.51% monthly gain and daily gain of 0.15% are recorded, while the drawdown is 12%. And, a profit factor of 2.08 is shown. The lot sizes are a bit high at 0.03 with some being set at 0.09.
Pricing & Refund
In order to subscribe to the NCM Signal service, you can choose from the two packages offered. For the IB subscription pack, the cost is $39 per month and $79 per month is charged without the IB subscription.
Considering the system uses a high-risk grid-martingale strategy, the prices are too expensive. Traders would not be comfortable with a high-risk approach and paying expensively for such a rich strategy. Furthermore, the vendor does not offer a money-back guarantee, which indicates the system is not a reliable one.
Feedback from customers helps in better evaluation of the system. NCM Signal service has feedback from users posted on trusted sites such as Trustpilot and Forexpeacearmy. Screenshots of the reviews are shown below.
From the reviews, it is clear that the Martingale system approach is not working and that the profits are not as assured by the vendor.